Israeli legislators overwhelmingly passed a measure to dissolve parliament on Tuesday, a critical procedural move that brings the Israeli entity closer to its fifth election in less than four years.

Members of departing Prime Minister Naftali Bennett's coalition and the opposition led by ex-Prime Minister Benjamin Netanyahu have been battling in "Israel's" parliament, the Knesset, over a dissolution bill since last week.

The coalition claimed it wanted the law passed as soon as possible after Bennett stated last week that his coalition was no longer viable.

However, Netanyahu and his supporters have been in discussions to establish a new Netanyahu-led administration inside the existing parliament, avoiding further elections.

The parties traded legislative punches before agreeing late Monday to pass a package that would become law by the end of Wednesday.

The preparedness of the opposition to dissolve parliament signaled that Netanyahu's efforts to assemble a new cabinet had stagnated.

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The measure proposes dissolving parliament and holding new elections on October 25 or November 1, with the exact date to be determined after additional discussions.

Following that, the law must be passed in two more full Knesset votes.

Bezalel Smotrich of the far-right Religious Zionism party said elections can still be prevented by midnight Wednesday. "But if they're forced upon us, they will be the dawn of a new day."

According to Israeli media reports, some Knesset factions, including ultra-Orthodox Jewish parties that support Netanyahu, are concerned that new polls will result in them losing seats or being kicked out of parliament entirely if they fall below the minimum support threshold of 3.25% of all votes cast.

On Tuesday and Wednesday, lawmakers were expected to pass a slew of other consensus bills before voting on the dissolution measure.

During the dissolution of parliament, Bennett will give over authority to Foreign Minister Yair Lapid, in accordance with the power-sharing agreement reached following last year's inconclusive elections.

The refusal to extend legislation that assures illegal Israeli settlers in the occupied West Bank live under Israeli law, according to the premier, was the final straw.

Bennett, a former executive director of a settler lobbying organization, said the measure's expiry on June 30 would have created security issues, as well as "constitutional chaos".

If parliament is dissolved before the expiration date, the so-called West Bank bill will continue in effect until a new administration is formed.

According to Bennett, "I'm not happy about the elections; it's certainly not good for Israel, but it is what it is."